Watson gets $35M in GSK patent settlement
The USA's Watson Pharmaceuticals has reached a settlement with UK drug major GlaxoSmithKline on patent litigation related to the latter's antidepressant Wellbutrin XL (bupropion HCl) extended-release tablets 150mg. On the day of the news, February 12, shares in GSK rose $0.56 to $56.94, while Watson rose $0.03 to $28.20.
In December 2005, US generic drugmaker Andrx filed a patent infringement law suit in the US District Court for the Southern District of Florida against GSK. Watson acquired Andrx in November 2006. Under terms of the deal, Watson will receive a one-time payment of $35.0 million, and has granted GSK a royalty-bearing license to the disputed patent. Other terms of the deal are confidential.
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